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Running A Business In The Community- Vocabulary
Test Description: Vocabulary
Instructions: Answer all questions to get your test result.
1) What is a budget?
A
a shortage of a resource
B
setting aside money, earned or given, for future use
C
a plan for managing a person’s income and expenses
D
money a person gets from working or selling goods and services
2) What is spending?
A
giving money or goods and services to a charitable organization
B
purchasing goods and services to satisfy wants and needs
C
providing a paid service, completing a paid job, interest from saving
D
setting aside money for future use
3) What is saving?
A
setting aside money for future use
B
giving money or goods and services to a charitable organization
C
providing a paid service, completing a paid job, interest from saving
D
purchasing goods and services to satisfy wants and needs
4) What is earning?
A
purchasing goods and services to satisfy wants and needs
B
providing a paid service, completing a paid job, interest from saving
C
giving money or goods and services to a charitable organization
D
setting aside money for future use
5) What is donating?
A
giving money or goods and services to a charitable organization
B
providing a paid service, completing a paid job, interest from saving
C
setting aside money for future use
D
purchasing goods and services to satisfy wants and needs
6) Which of these is an example of earning?
A
You go to the mall and buy shoes
B
You gather up clothes you don't wear anymore and take them to Goodwill
C
You put the money you have in a piggy bank
D
You work for two weeks, and your boss gives you a paycheck
7) Which of these is an example of spending?
A
You write a check to an organization that helps people
B
You get money from your mom for your birthday
C
You put money aside to buy a car
D
You buy a new watch
8) Which of these is an example of saving?
A
You help your friend clean his house
B
You go to the store to get groceries
C
You buy a coke at the movies
D
You put half of your paycheck aside for a new jacket
9) Which of these is an example of budget?
A
You save money for a video game
B
You use your paycheck to pay bills and expenses
C
You help your friend paint their house
D
You babysit children down the street
10) Which of these is an example of donating?
A
You set aside money to go see a movie
B
You get money for mowing someone's lawn
C
You get a new outfit
D
You take cans of food to a Food Bank
*select an answer for all questions
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